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Earnings Per Share

6 Months Ended

Dec. 31, 2017

11. Earnings Per Share

Basic earnings per share is computed by dividing the weighted-average number of shares of Class A common stock outstanding, during each period presented. Diluted earnings per share is computed similarly to basic earnings per share, except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue shares of Class A common stock were exercised or converted into shares of Class A common stock. The computations for basic and diluted earnings per share are described in the following table:

	Three Months Ended December 31,				Six Months Ended December 31,
	2017		2016		2017		2016

Net income	$	423,350	$	1,097,667	$	641,046	$	1,238,163

Weighted-average common shares outstanding:
Basic number of shares		24,525,839		16,541,205		24,380,448		16,079,030

Effect of dilutive securities:
Options to purchase common stock		408,493		51,433		385,424		71,605
RSUs		1,397,866		1,132,359		1,376,887		1,115,887
Common stock warrants		105,160		177,715		184,000		257,213
Diluted number of shares		26,437,359		17,902,712		26,326,759		17,523,735

Earnings per common share:
Basic	$	0.02	$	0.07	$	0.03	$	0.08
Diluted	$	0.02	$	0.06	$	0.02	$	0.07

The following potential dilutive shares were not included in the computation of diluted earnings per share as their effects would be anti-dilutive:

	Three Months Ended December 31,				Six Months Ended December 31,
	2017		2016		2017		2016
Options to purchase common stock		696,811		935,899		714,710		824,218
RSUs		213,288		344,990		183,081		278,685
Common stock warrants		83,589		826,709		154,590		774,455
		993,688		2,107,598		1,052,381		1,877,358